U.S. Markets close in 1 hr 56 mins

PeerStream Business Solutions Expands Blockchain Technology Offerings to Include Innovative ProximaX Protocol

ProximaX Selects PeerStream as Preferred Integrator in North America

NEW YORK, NY and GIBRALTAR / ACCESSWIRE / June 27, 2018 / PeerStream, Inc. (PEER), a global internet solutions provider driving adoption of emerging blockchain technologies, today announced a partnership with ProximaX to expand its innovative blockchain protocol in North America. Through this partnership, PeerStream becomes the preferred North American integration partner for ProximaX, expanding adoption and integration of its blockchain solution which provides decentralized document proofing, storage, messaging, and streaming content delivery. ProximaX will refer prospective adopters of its innovative protocol to PeerStream for consulting and integration services.

"PeerStream Business Solutions is excited to be working with clients to adopt ProximaX's blockchain 3.0 technology. As a contributor to the development of the ProximaX protocol, we believe its API-driven architecture as well as its storage and streaming service layers make it a superior blockchain for developers," said Alex Harrington, Chief Executive Officer of PeerStream.

The ProximaX protocol is a next-generation, blockchain-based, decentralized platform. It provides augmented secured services, content delivery, storage and media streaming. ProximaX is an all-in-one platform for cross-industry application and decentralized app development. Since its successful ICO in April, ProximaX has made significant advancements towards finalizing its technology. The protocol is now development-ready for an array of public and private sector solutions. The core components, Distributed File Management System (DFMS) and PeerStream Protocol (PSP), PeerStream's media delivery protocol, are abstracted to form a service layer thus offering an easy-to-program platform. This helps businesses and innovators avoid the costly, failure-prone architecture associated with traditional blockchain solutions.

PeerStream's Business Solutions team is uniquely capable to support entrepreneurs, enterprises and governments in building solutions on the ProximaX protocol. In addition to PSP supporting media streaming and messaging, PeerStream is expanding its service offerings to include a broad array of blockchain integration services across a variety of industries including financial services, media, logistics and healthcare.

"We believe that PeerStream, with its expansive service offerings and established North American presence, will be an ideal integration technology provider for the users of our protocol," said Lon Wong, Founder and Chief Executive Officer of ProximaX Ltd. "ProximaX is generating significant interest from enterprises and app developers and we foresee ProximaX playing a significant role in enabling the adoption of blockchain technology in a practical and cost-effective manner. To accomplish our goal, we are building a network of top caliber technology service providers to build an onramp to speed up adoption of our technology."

About ProximaX, Ltd.

ProximaX platform is an advanced extension of the Blockchain and Distributed Ledger Technology (DLT) with utility-rich, industry-standard services and protocols. With a NEM.io inspired blockchain layer at its core, a decentralized storage layer through IPFS, and a P2P multimedia streaming and messaging layer powered by PeerStream Protocol (PSP (PEER), ProximaX will enable a rich, all-in-one, easy to program, platform for broader cross-industry application and decentralized app development. The community of developers will help advance many of the innovative applications including, but not limited to, KYC, medical health records, land registry, trade finance documentation, certificates, time stamping and proofing, identity management, and Internet of Things (IoT). For more information, visit: www.proximax.io.

About PeerStream, Inc. (PEER)

PeerStream is a global internet solutions provider pioneering the real-world adoption of emerging blockchain technologies by developing software, services and applications for corporate clients and consumers. The Company’s Business Solutions group is able to provide advisory and implementation services to enterprise clients to help them meet strategic objectives using blockchain technology. PeerStream also will be supporting clients’ transition to blockchain through license of proprietary software such as PSP, a protocol for decentralized multimedia communications and live video streaming currently in development. For nearly twenty years, the Company has built and continues to operate innovative consumer apps, including Paltalk, one of the largest live video social communities, and Backchannel, a blockchain-based secure video messaging app expected to launch in late 2018. PeerStream has a long history of technology innovation and holds 26 patents.

For more information, please visit: http://www.peerstream.com

To be added to our news distribution list, please visit: http://www.peerstream.com/investor-alerts/

Forward-Looking Statements

This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with general economic, industry and market sector conditions; the ability to effectively develop and incorporate blockchain technology into the Company's applications; the ability to effectively market and generate revenue from our new business solutions unit; our ability to effectively develop and launch the PSP and our ability to generate user and developer support for the PSP; user acceptance of our updated applications; the Company's ability to institute corporate governance standards or achieve compliance with national securities exchange listing requirements; the Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers, new subscription transactions or monthly active users; the ability to enter into new advertising agreements; the Company's ability to generate positive cash flow from operations; the ability to diversify new user acquisition channels or improve the conversion of users to paid subscribers; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in our industry; the ability to release new applications or derive revenue from new applications; and circumstances that could disrupt the functioning of the Company's applications. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov.

All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.

PeerStream Investor Relations Contact: IR@peerstream.com

ProximaX Media Contact: proximax@transform.pr

SOURCE: PeerStream, Inc.